Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate

Iran warned Monday that it would retaliate against further U.S. attacks, threatening American oil and gas interests across the Gulf as renewed hostilities raise concerns over global energy supplies and shipping through the Strait of Hormuz.

“Strike our assets and you get struck,” Iranian Parliament Speaker Mohammad Baqer Qalibaf said after U.S. and Iranian forces exchanged attacks on shipping over the weekend. The escalation helped push oil prices toward six-week highs.

Tehran has tightened restrictions on Strait of Hormuz shipping since the conflict began with U.S. and Israeli strikes on Iran on February 28. The waterway is crucial to global energy markets, carrying about one-fifth of worldwide oil and liquefied natural gas shipments before the war.

Senior Iranian security official Mohsen Rezaei said Tehran plans to establish a new restricted zone in the Gulf and introduce another shipping corridor through the strait. He said Iran would only guarantee that Hormuz remains open if Washington ends attacks, threats and what Tehran describes as sabotage.

Qalibaf also warned that U.S. energy facilities throughout the region were exposed, responding after Defense Secretary Pete Hegseth described Iran’s tanker fleet as “defenceless.”

Regional tensions intensified further Monday when Israeli strikes on southern Lebanon killed at least 12 people, according to Lebanon’s health ministry. The bombardment has raised concerns about renewed fighting with Iran-backed Hezbollah despite a June ceasefire.

Meanwhile, tanker attacks are increasingly disrupting Gulf shipping. U.S. forces struck three Iranian oil tankers Saturday, including one near Kharg Island, Iran’s main crude export hub, U.S. Central Command said. Shipping data showed an average of only 10 commodity vessels per day crossed the Strait of Hormuz over the past 10 days, the lowest since May.

Iran is also facing growing economic pressure from U.S. sanctions, inflation, unemployment and currency instability. Gulf producers are seeking alternatives as well, with UAE presidential adviser Anwar Gargash saying the country is developing new energy export and trade routes.

The disruption is also pushing U.S. fuel costs higher, adding economic pressure on President Donald Trump ahead of November’s midterm elections.